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NS BlueScope Post-Budget 2017 Commentary

2016-10-24 16:35
https://photos.prnasia.com/prnvar/20161024/8521606814


KUALA LUMPUR, Malaysia, Oct. 24, 2016 /PRNewswire/ -- NS BlueScope welcomes the ongoing efforts of the Malaysian Government with regards to the recent tabling of the 2017 budget themed "Budget 2017: Ensuring Unity and Economic Growth, Inclusive Prudent Spending, Wellbeing of the Rakyat". The budget allocation of some RM260.8 Billion has taken into consideration adjustments to the immediate concerns of the people and the long term strategic goals of sustainable economic growth. 

Mr. Pongsak Padungkarn, Country President for Malaysia, Singapore & Brunei
Mr. Pongsak Padungkarn, Country President for Malaysia, Singapore & Brunei

Indicators of strong economic performance such as improved purchasing power, continued domestic demand and consistent external trade figures breeds confidence in Malaysia's overall performance coupled with the government's ability to invest into large scale infrastructure projects which will have a direct impact on the lives of the people. As such Malaysia continues to enjoy a strong credit rating of A- which is higher than many of her regional neighbours. 

NS BlueScope commends the government's initiative in accelerating infrastructure projects such as the Pan Borneo Highway in Sabah and Sarawak, and the completion of 227 primary and secondary schools throughout the country, including 8 new schools with an allocation of RM478 million. The RM55 billion implementation of the new East Coast Rail Line project connecting the Klang Valley to the East Coast, will be both an economic stimulus and one that creates logistical efficiencies for both industry and the people reducing transportation costs and keeping inflation in check. 

NS BlueScope is actively involved in several government projects, including the Mass Rapid Transit (MRT), Light Rail Transit (LRT), Hospital Kuala Krai, Bangunan Tabung Haji, Rubber Research Centre, Hospital Seberang Jaya, Hospital Putrajaya, Link bridge @ KL Eco City, Universiti Teknologi MARA (UiTM) reroofing, various projects in Pengerang, Tentera Udara Diraja Malaysia (TUDM) and many more. 

Housing programs that will directly benefit the people such as the new National Blue Ocean Strategy (NBOS) initiative MyBeautiful New Home, the Ministry of Urban Wellbeing,

Housing and Local Government (KPKT) People's Housing Programme (PPR), allocations to Perumahan Rakyat 1Malaysia (PR1MA) and the People's Friendly Home (PMR) allocated to Syarikat Perumahan Negara Berhad (SPNB) respectively has taken into consideration the requirements of various levels of society and will see tens of thousands of new home owners in the years to come. NS BlueScope stands committed to supply quality building materials to these projects to ensure that the Malaysian people get the best quality available in the market.   

The Government's decision to allocate RM300 million under the 1Malaysia Maintenance

Fund (TP1M) to repair facilities at flats and 113 People's Housing Programme (PPR) in urban and suburban areas is equally important.  Many of these works will be carried out by SME's, as a midstream steel manufacturer we will continue to support the efforts of these SME's in line with the government vision for anchor companies.   

We applaud the government's decision to build and refurbish 17,000 units of destitute and dilapidated houses in remote villages and Orang Asli settlements with an allocation of RM350 million.  This is in line with our own CSR program which seeks to uplift the wellbeing of the Orang Asli, we look forward to working hand-in-hand with relevant government bodies towards this goal as it will have a direct impact on the living conditions of thousands of families.   

These developments in the 2017 budget bodes well for the building materials sector as the demand for quality roofing solutions will remain strong, we are optimistic that the sector will continue to see growth in the coming year. 

On behalf of NS BlueScope we express appreciation to the Malaysian government for their efforts in formulating a budget that is both sound and will encourage growth in the construction sector, we remain an active partner with the Malaysian people as they continue on the journey towards a development and high income nation.    

About NS BlueScope Malaysia Sdn. Bhd. 

For more than 50 years NS BlueScope Malaysia has been an integral part of the building materials industry in Malaysia. Now as a reputable and major manufacturing, marketing and distribution company we continue to serve the needs of the construction industry in Malaysia.  

A global company with a significant local footprint NS BlueScope currently owns and operates six manufacturing plants for roll-forming and coated steel building products namely NS BlueScope Malaysia, Kapar, NS BlueScope Lysaght , Shah Alam, NS BlueScope Lysaght, Sabah, NS BlueScope Lysaght, Sarawak, NS BlueScope Lysaght, Singapore and NS BlueScope Lysaght, Brunei employing some 600 people   

With products produced locally, used in both iconic projects and housing that improves the daily lives of people, NS BlueScope Malaysia is the only local manufacturer of COLORBOND® pre-painted steel,  TRUECORE® and ZINCALUME® aluminium and zinc coated steel.  

NS BlueScope Malaysia Sdn Bhd is a leader in innovative and green manufacturing practices as the first coated steel manufacturer in Malaysia receive SIRIM's Eco-Label certification.  Our commitment to sustainability has been recognized by the Malaysian Green Building Confederation in the publication of the Green Pages Malaysia directory and MyHIJAU directory by GreenTech Malaysia. NS BlueScope is also accredited by the Singapore Green Building Council and a continual improvements in best practices are accredited through Quality Management System ISO 9001 and Environmental management System ISO14001. 

NS BlueScope Malaysia Sdn Bhd are a part of BlueScope Steel Limited Australia; one of the world's largest manufacturers listed on the Australian Stock Exchange (ASX: BSL). As the leading the supplier of premium metallic coated and painted steel building products, the strength of BlueScope is its global network with more than 100 facilities in 17 countries, employing over 16,000 people serving thousands of customers.  

BlueScope drives growth in premium branded coated and painted steel markets in the AsiaPacific region and builds on the strong value proposition offering customers across the Pacific Rim from Asia, Australia, New Zealand and to the west coast of North America high quality building materials.

For more information about NS BlueScope Malaysia Sdn. Bhd., visit www.bluescope.com.my or email enquiries@bluescope.com

Photo - http://photos.prnasia.com/prnh/20161024/8521606814

Source: NS BlueScope Malaysia Sdn Bhd

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